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Cyber criminals: how scams actually work

Most cyber crime isn't sophisticated hacking. It's business. Criminal groups buy stolen passwords, rent phishing kits and ransomware "as a service", and work at scale. AI has made them faster and more convincing.

The common attacks

  • Phishing: emails or texts that get you to click a link, enter a password or open an attachment.
  • Business email compromise and invoice fraud: a criminal gets into (or imitates) a supplier's or manager's email, then asks for a payment or a "change of bank details". Email compromise is the most commonly reported cybercrime by Australian businesses, and email compromise with a financial loss is second. It works because the email often comes from a real account in a real conversation.
  • Ransomware: criminals lock your files, and often steal them first, then demand payment.
  • Password attacks: criminals try passwords leaked from other websites against your email and systems.

Why small businesses get hit

Not because they're targeted personally. It's because they're easier: no MFA, old software, one person doing everything in a rush. And through you, criminals can reach your bigger clients.

Red flags

Bad spelling is still worth noticing, but good spelling proves nothing. Watch for:

  • Pressure to act now.
  • A change to payment details, a request for gift cards, or secrecy ("don't tell anyone yet").
  • An unexpected login prompt after clicking a link.
  • A request that skips your normal process.

What to do

  1. Turn on MFA for email, banking and accounting. It's the biggest single win.
  2. Verify any change to bank details by phone, using a number you already have.
  3. Use a password manager, so every account has its own password.
  4. Keep devices and software updated.
  5. Have tested backups that ransomware can't reach.
  6. Report it: ReportCyber (cyber.gov.au) and Scamwatch (scamwatch.gov.au). If money was sent, call your bank immediately; speed matters.

Sources